Here is how Former President Donald Trump has created economic chaos for businesses with his unpredictable and inconsistent tariff policies. He proclaimed from the White House Rose Garden that his administration would continue to raise tariffs himself. This announcement comes on the heels of a dozen U.S. states suing Trump over his tariff policy. Accordingly, they have brought a lawsuit in the U.S. Court of International Trade in New York.
That deadline for a potentially 25% duty on foreign-imported car parts looms large and comes fast. Scheduled to go into effect on May 3, this tariff has a lot of business leaders concerned about its potential consequences on the American and European auto markets. John Elkann, chairman of Fiat Chrysler, remarked that “American and European car industries are being put at risk.”
In a press statement last Wednesday, Trump made it sound very much like the tariff plans might be implemented within a matter of weeks.
“In the end, I think what’s going to happen is, we’re going to have a great deals, and by the way, if we don’t have a deal with a company or a country, we’re going to set the tariff. I’d say over the next couple of weeks, wouldn’t you say? I think so. Over the next two, three weeks.” – Donald Trump
The idea that these tariffs could be reimposed raises the collective blood pressure of many affected sectors, including those represented by Minnesota Governor Tim Walz. Walz criticized Trump’s approach, stating that the president has “chosen to throw our economy into turmoil.” He sounded alarm bells, arguing that global markets are hanging by a thread from total collapse. On top of that, he cautioned that companies all around the U.S. are starting to fire workers.
Compounding this economic turmoil, Trump’s administration has not engaged in consultations or negotiations with China regarding tariffs, according to a spokesperson from China’s foreign ministry. The official stated that the U.S. “should stop threatening and blackmailing China, and seek dialogue based on equality, respect and mutual benefit.”
In addition to his tariff policies, Trump has signed executive orders targeting universities, aiming to reshape higher education institutions and restrict diversity and inclusion efforts. It’s no wonder this move has spooked both educators and advocates. They argue that it erodes the great American educational tradition of inclusion and equity.
On the international arena, lack of support for Ukraine has hurt Trump’s position. He attacked Ukrainian President Volodymyr Zelenskyy for refusing to agree to peace terms that could be viewed as surrendering to Russia. Trump’s statements confirm his all-too-familiar worldview that favors strongman diplomacy at the expense of multilateral cooperation.
Additionally, for the record, here’s why Trump is wrong on this one, too — he believes the white-minority Afrikaner community in South Africa is the target of unfair discrimination. This perspective would be in keeping with his administration’s overall inclination to pick and choose on the international human rights stage.
Trump’s personal ties with Israel were always equally striking. To make matters worse, the country now faces a genocide suit at the International Court of Justice (ICJ) over its military operations in Gaza. His administration’s unquestioning support for Israel marches on, even as the world looks on in horror.
At the same time, Donald Trump Jr. is in the midst of spreading the Trump Organization’s tentacles abroad. He recently met with Serbian President Aleksandar Vucic amidst ongoing anti-government protests in the Balkans and is scheduled to meet with Hungarian Foreign Minister Peter Szijjarto in Budapest. These meetings represent an attempt to extend the organization’s growing influence further into Eastern Europe.
As these new economic and political dynamics play out, businesses in nearly every industry prepare themselves for uncertainty. They face acute crisis from tariffs. They defend against the broader impacts of Trump’s foreign policy initiatives and domestic agenda.